By Reuters Staff SSEC -0.3%, CSI300 -0.7%
SHANGHAI, April 6 (Reuters) - China stocks retreated on Tuesday, pressured by healthcare and consumer companies, as solid economic data raised worries of policy tightening. The CSI300 index fell 0.7% to 5,128.01 points at the end of the morning session, while the Shanghai Composite Index dipped 0.3% to 3,473.32. As of last close, the CSI300 had rebounded nearly 6% from a recent trough hit on March 25, while SSEC had gained more than 4% in the same period. Falling the most on Tuesday, the CSI300 healthcare index and CSI300 consumer discretionary index dropped 1.8% and 1.9%, respectively. Recent economic data has been robust, but analysts warn that it could lead to concerns of inflation and policy tightening.
By Reuters Staff
2 Min Read
(Reuters) -Germany’s CPI Property Group and Aroundtown SA on Wednesday offered to buy London-listed Globalworth Real Estate Investments in a deal valued at about 1.57 billion euros ($1.88 billion).
Shareholders in Globalworth, which mainly operates in the office sector in Poland and Romania, will be entitled to get 7 euros per share in cash, CPI said.
The German consortium said it currently holds about 51.5% of Guernsey-incorporated Globalworth. The offer represents a premium of nearly 20% to Globalworth’s last close.
Office real estate has taken a hit during the COVID-19 pandemic as restrictions forced people to work from home, while slow vaccination roll-outs in Europe has cast doubts on the speed of reopening and return to work plans.
By Reuters Staff
2 Min Read
(Reuters) -Globalworth Real Estate’s top shareholders are planning an unsolicited bid valuing the British firm at 1.57 billion euros ($1.88 billion), CPI Property said on Wednesday, sending the shares sharply higher.
CPI and Aroundtown own 51.5% of Globalworth, which operates mainly in the office sector in Poland and Romania.
The proposed bid would offer 7 euros per share in cash, CPI said, a premium of nearly 20% to Globalworth’s last close but news of the move sent the stock up 28% to 7.50 euros on Wednesday.
Globalworth “strongly advised” shareholders not to take any action in relation to the offer as it evaluates it, the firm said in a statement.
Breakingviews
By Reuters Staff
2 Min Read
Window cleaners wash the exterior of an office building in Gdansk, Poland October 24, 2019. Picture taken October 24, 2019.
(The author is a Reuters Breakingviews columnist. The opinions expressed are their own.)
LONDON (Reuters Breakingviews) - WORTH MORE. German property funds CPI Property and Aroundtown are attempting a cheeky raid on eastern European offices. The duo, which collectively own 51.5% of UK-listed Globalworth Real Estate Investments, offered on Wednesday to buy the remainder of the Poland- and Romania-focused group for just under 1.6 billion euros. At first glance, their 7 euro per share bid, a 19% premium to Globalworth’s undisturbed price, looks reasonable. Initial appearances, however, can be deceptive.
2 Min Read
FILE PHOTO: An Airbus A321 aircraft of Bamboo Airways taxis at Noi Bai airport in Hanoi, Vietnam January 16, 2019. REUTERS/Kham/File Photo
HANOI (Reuters) - Vietnam’s Bamboo Airways plans to raise up to $200 million in an initial public offering in the United States, potentially securing a market capitalisation of up to $4 billion, its chairman Trinh Van Quyet said on Wednesday.
Bamboo Airways, owned by property and leisure company FLC Group, plans to offer a 5%-7% stake in the IPO, which it expects in the third quarter of this year, Quyet told Reuters in an interview.
“The IPO will be part of our efforts to expand our services globally,” Quyet said, adding that Bamboo Airways has hired an international auditing firm for the potential offering on the New York Stock Exchange.